Abbreviated Company Accounts - FRANKEYS LTD

Registered Number 06765600

FRANKEYS LTD

Abbreviated Accounts

31 December 2014

FRANKEYS LTD Registered Number 06765600

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	11,434	19,087
		11,434	19,087
Current assets
Debtors		10,256	2,991
Cash at bank and in hand		36,641	29,057
		46,897	32,048
Creditors: amounts falling due within one year		(54,254)	(50,266)
Net current assets (liabilities)		(7,357)	(18,218)
Total assets less current liabilities		4,077	869
Total net assets (liabilities)		4,077	869
Capital and reserves
Called up share capital		2	2
Profit and loss account		4,075	867
Shareholders' funds		4,077	869

For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 6 July 2015

And signed on their behalf by:
F Warriner, Director
M J Warriner, Director

FRANKEYS LTD Registered Number 06765600

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year,
exclusive of Value Added Tax.

Tangible assets depreciation policy
All fixed assets are initially recorded at cost.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value,
over the useful economic life of that asset as follows:

Plant & Machinery - 20% Reducing balance
Fixtures & Fittings - 20% Reducing balance
Motor Vehicles - 25% Reducing balance
Computer Equipment - 33% Straight line

Other accounting policies
Deferred taxation

Deferred tax is recognised in respect of all material timing differences that have originated but
not reversed at the balance sheet date where transactions or events have occurred at that date that
will result in an obligation to pay more, or a right to pay less or to receive more tax.

Deferred tax assets are recognised only to the extent that the directors consider that it is more
likely than not that there will be suitable taxable profits from which the future reversal of the
underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in
the periods in which timing differences reverse, based on tax rates and laws enacted or
substantively enacted at the balance sheet date.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the
contractual arrangements entered into. An equity instrument is any contract that evidences a
residual interest in the assets of the entity after deducting all of its financial liabilities.

2Tangible fixed assets

	£
Cost
At 1 January 2014	31,884
Additions	1,252
Disposals	(11,360)
Revaluations	-
Transfers	-
At 31 December 2014	21,776
Depreciation
At 1 January 2014	12,797
Charge for the year	3,221
On disposals	(5,676)
At 31 December 2014	10,342
Net book values
At 31 December 2014	11,434
At 31 December 2013	19,087